ECON 2301

Principles of Macroeconomics

ECON 2301

Updated May 22, 2012

State Approval Code:45060185125

Semester Credit Hours:3

Lecture Hours per Week:3

Contact Hours per Semester:48

Catalog Description

History, development, and application of microeconomic theory underlying the production,
distribution, and exchange of goods and services. The course focuses on the aggregate
behavior of households, firms, and government. Topics include gross domestic product,
unemployment, inflation, national income analysis, fiscal policies, monetary and banking
theory and policy, and international economics. Attention given to the application
of economic principles to economic problems. Lecture hours = 3, Lab hours = 0

Course Curriculum

Basic Intellectual Compentencies in the Core Curriculum

Reading

Listening

Critical thinking

Perspectives in the Core Curriculum

Stimulate a capacity to discuss and reflect upon individual, political, economic,
and social aspects of life in order to understand ways in which to be a responsible
member of society.

To interpret mathematical models such as formulas, graphs, tables and schematics,
and draw inferences from them.

Social and Behavioral Sciences

To use and critique alternative explanatory systems or theories.

To analyze the effects of historical, social, political, economic, cultural, and global
forces on the area under study.

To differentiate and analyze historical evidence (documentary and statistical) and
differing points of view.

To analyze, critically assess, and develop creative solutions to public policy problems.

To recognize and assume one's responsibility as a citizen in a democratic society
by learning to think for oneself, by engaging in public discourse, and by obtaining
information through the news 4 media and other appropriate information sources about
politics and public policy.

Instructional Goals and Purposes

Panola College's instructional goals include 1) creating an academic atmosphere in
which students may develop their intellects and skills and 2) providing courses so
students may receive a certificate/an associate degree or transfer to a senior institution
that offers baccalaureate degrees.

General Course Objectives

To stimulate an awareness of and a continuing interest in major economic problems
in a society.

To provide the student with a firm grasp of the few basic principles and analytical
tools he needs in order to think intelligently about economic problems.

To teach the student the language and vocabulary of economics

To help the student develop good methods in thinking about economic problems.

To help train the student in thorough, exact reading and in careful, concise written
and oral expression.

Specific Course Objectives

Be familiar with economic terms and concepts necessary to address current economic
problems.

Be familiar with the two basic approaches used in administering economic policy in
the U.S. (Monetary Policy and Fiscal Policy).

Be familiar with reasonable goals that any economic system should strive for (growth,
price stability, and employed resources).

Have an understanding of the role of the Federal Reserve and the U.S. Banking System
in the administration of monetary policy.

Understand the role of Aggregate Demand in solving the basis problems of inflation
and unemployment.

Have a working knowledge of graphs and their use in constructing economic models.

Develop an understanding of how the federal budget can be used as a tool to implement
fiscal policy.

Be able to interpret economic data pertaining to levels of output and incomes in the
U.S. economy

General Description of Each Lecture or Discussion

Macroeconomics deals primarily with the broad national problems related to inflation
and unemployment. Monetary policy and the federal reserve system as well as fiscal
policy and federal taxation and spending will be emphasized with respect to how the
goals of growth and stability can be achieved.

Methods of Instruction/Course Format/Delivery

For the traditional classroom course, teaching approaches are expected to vary with
individual instructors who should employ those techniques which work best for them
and their students. Although lecture and reading assignments are the primary delivery
systems, other instructional techniques may include classroom discussion, audio-visual
presentations, speakers, critical thinking exercises, and group activities including
a field trip.

Individualized instruction (using the Internet) in ECON 2301 at Panola College is
designed for students who are capable of the self-discipline necessary in a non-structured
situation to complete a four-hour course in one semester. Experience shows that only
students of above-average motivation and self discipline normally complete such a
course. All course requirements in the online version of ECON 2301 must be completed
by the end of the semester in which the student is enrolled. The course instructor
will determine course requirements.

Assessment

Evaluation of students for grading purposes is done on the basis of attendance, exercises,
and unit exams prepared by the instructor. Your instructor determines the exact weights
of each assessment category.

Course grades are based on the following scale:

90 and above A

80-89 B

70-79 C

60-69 D

Under 60 F

Text, Required Readings, Materials, and Supplies

Principles of MacroEconomics, by Fred M. Gottheil, Sixth Edition, 2009, Cengage, a part of the Cengage Learning,
ISBN 978-1-424-06873-9

Panola College is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools to award associate degrees and certificates of completions. Contact the Commission on Colleges at 1866 Southern Lane, Decatur, Georgia 30033-4097 or call 404-679-4500 for questions about the accreditation of Panola College.

Panola College is an Equal Opportunity Institution that provides educational and employment opportunities on the basis of merit and without discrimination because of race, color,religion, sex, age, national origin, veteran status, disability, or genetic information.

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